The strong revenue beat and accelerated development timeline suggest near-term growth. Monitor cash flow as $4.8M is below prior levels, but $18.9M in expected future payments provides liquidity visibility.
Price Chart
Executive Summary
Pure Cycle reported Q2 2026 earnings with $5.2M revenue (+29% YoY) and $1.1M net income (+37% YoY), driven by favorable weather accelerating lot deliveries. The company also disclosed a mild winter boosted oil & gas water deliveries by 335% YoY. Cash decreased to $4.8M due to investments in rental units and infrastructure.
Key Financial Metrics
Key Facts
- Q2 2026 revenue: $5.2M (+29% YoY), net income: $1.1M (+37% YoY), EPS: $0.05
- Revenue growth driven by accelerated lot deliveries due to mild winter
- Oil & gas water deliveries up 335% YoY to 272 acre-feet
- Cash balance decreased to $4.8M from $21.9M (Aug 2025) due to investments
- Company expects $18.9M in milestone and lot payments over next 12 months
Financial Impact
$5.2M revenue, $1.1M net income
Risk Factors
- Cash balance decreased significantly to $4.8M
- Single-family rental expansion slowed due to regulatory uncertainty
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-041286 |
| Document: pcyo-20260408xex99d2.htm | 0001104659-26-041286 |
| Document: pcyo-20260408x8k.htm | 0001104659-26-041286 |
| Document: 0001104659-26-041286-index-headers.html | 0001104659-26-041286 |
| Document: 0001104659-26-041286-index.html | 0001104659-26-041286 |
| Document: 0001104659-26-041286.txt | 0001104659-26-041286 |
| 8-K Data (Synthetic) | 0001104659-26-041286 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 25, 2026 9w ago | 8-K | $11.69 | awaiting T+60 | — | $10.44 (−10.69%) |
Jul 9, 2026 15w ago | 8-K | $10.79 $10.90 | ▲ +1.02% | ▼ −0.61% | $10.44 (−3.24%) |
Jul 8, 2026 15w ago | Press Release | $10.79 $10.90 | ▲ +1.02% | ▼ −0.61% | $10.44 (−3.24%) |
Jun 30, 2026 17w ago | Press Release | $10.71 $11.00 | ▲ +2.71% | ▼ −0.86% | $10.44 (−2.52%) |
May 26, 2026 22w ago | 8-K | $9.92 $11.46 | ▲ +15.52% | ▲ +12.80% | $10.44 (+5.24%) |
Apr 9, 2026 28w ago | 8-K | $11.85 $10.55 | ▼ −10.97% | ▼ −21.75% | $10.44 (−11.90%) |
Apr 8, 2026 28w ago | Press Release | $11.85 $10.55 | ▼ −10.97% | ▼ −21.75% | $10.44 (−11.90%) |
US Market Status
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